US Department of Energy Honours the IEAs "World Energy Investment Outlook"

(Paris) — 19 February 2004

Dr. Fatih Birol, International Energy Agency's Chief Economist, today accepted a Special Award from the US Department of Energy and Energy Information Administration in recognition of the analytical excellence of the 2003 World Energy Investment Outlook.

Ms. Vicky Bailey, Assistant Secretary of the US Department of Energy, praised the study as “the first attempt to organise a comprehensive and authoritative picture of future investment needs, worldwide, in all parts of the energy supply chain”. The WEIO, she said, “makes an important contribution to the understanding of critical energy issues facing the world and challenges myths that have tended to dominate the energy debate over the last 30 years”.

The World Energy Investment Outlook “shows the difficulty for the energy sector to attract global investments and the need for government policies to help ensure that our energy investment needs are achieved… It provides sound analyses and key messages”, she added. “This publication has received a positive reaction from US industry and government officials. The WEIO’s credibility is enhanced by the fact that it was produced by a respected and independent international organisation”.

Dr. Fatih Birol, the manager of the study, described the award as an unprecedented honour for himself, his colleagues and the Agency as a whole. In a short acceptance speech, he described how the project was the culmination of a major effort from staff across the agency and also acknowledged the valuable input of external organisations. Mr. Claude Mandil, the IEA’s Executive Director, commented that the award was welcome recognition from the Agency’s largest member country of the importance of the IEA’s work.

The World Energy Investment Outlook, released in November 2003, is the latest edition in the IEA’s flagship World Energy Outlook series. Extracts of the study have been translated into eight languages. More information is available at http://www.worldenergyoutlook.org

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